Will This Be Your Future?
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Category Archives: News
Sweat Equity=Down Payment
Freddie Mac has an Enhanced Sweat Equity Program where borrowers (aka purchasers) can purchase a home and use sweat equity as a downpayment and closing costs. No money to the table! Here’s what’s allowed: Sweat equity to be used for the entire amount of down payment and closing costs with maximum 97 percent LTV/105 percent… Read More: Sweat Equity=Down Payment »
New Head of FHFA
From our friends at the South Carolina Professional Appraiser Coaltion… Trump Chooses Pence Aide Calabria to Lead FHFA (From CQ News) President Donald Trump tapped conservative economist Mark Calabria to lead the Federal Housing Finance Agency, the government agency that oversees mortgage giants Fannie Mae and Freddie Mac. Calabria, who is Vice President Mike Pence’s… Read More: New Head of FHFA »
2019 Legislative Update
Senate Bill No. 1168 Senate Bill 1168 has been introduced into the Virginia Senate by Senator Bill DeSteph and impacts Real Estate Appraisers and Appraisal Management Companies. The bill allows for a regulatory Board within the Department of Professional Occupation Regulations to “expunge” a disciplinary record of a licensee. See the bill in the Virginia… Read More: 2019 Legislative Update »
What are you waiting for?
VaCAP sent out a “Call to Action” a month ago to comment on the proposed increase in the appraisal threshold to $400,000. As of this writing, only 168 comments have been received. This is our Future, Please Comment Now! The OCC, Board, and FDIC (collectively, the agencies) are inviting comment on a proposed rule to… Read More: What are you waiting for? »
Happy New Year
Thank you for your continual support of VaCAP. We are not successful with you! Change is happening. Yes, you have heard that before, but to be honest, it is true. For the first time ever, VaCAP is offering continued education in conjunction with our conference. This was a long time coming and was done in direct… Read More: Happy New Year »
2019 and Beyond….
Happy New Year! VaCAP wishes everyone a happy and healthy New Year! 2019 will be a year of excitement and change! The Fifth Circuit Court will hear Oral Arguments in the Louisiana Real Estate Appraisal Board vs FTC case in early February. VaCAP’s First Conference with Continuing Education takes place February 7 & 8th.… Read More: 2019 and Beyond…. »
The Appraiser and Marijuana
Landy Insurance published an article written by Jennifer L. Markowski, a partner at Peabody & Arnold LLP, titled “Marijuana and the Residential Appraiser.” Although Virginia has not legalized marijuana, the guidance within the article is worthy of sharing. Appraisers need to be cautious when describing or reporting marijuana growing on a property. “While the mere… Read More: The Appraiser and Marijuana »
Breaking: HUD Deputy Secretary Resigns!
Housing Wire reported Deputy Secretary Pam Patenaude announced she is stepping down. “It has been my honor to serve President Trump and Secretary Carson and I am deeply grateful to both for this opportunity,” her resignation letter states. “Thank you to my HUD family and fellow “housers” for helping Americans access decent, safe and affordable… Read More: Breaking: HUD Deputy Secretary Resigns! »
Thank You Appraisers for Protecting the Public
Thank You Appraisers for Protecting the Public Good News! Mortgage Fraud increased 12.4% How exactly is this good news? Well, it is simple….. Appraisers had absolutely nothing to do with it! According to the CoreLogic Mortgage Fraud Index, mortgage fraud rose 12.4% from 2nd Qtr 2017 through 2nd Qtr 2018. Here is the break down: … Read More: Thank You Appraisers for Protecting the Public »